Amber Grove @Dalraida Park
Senior Living | 29,928 SqFt
Marketing description
Well-maintained, recently vacated Class B former assisted living facility located in Montgomery, AL.
Class B+ area, new Starbucks in Publix Supermarket outlet, located 100 feet from property line.
30,000 SF in 4 brick buildings on 5 parcels totaling 3.2 manicured acres, in a nice and growing part of town.
16 units per building, multiple studio/BA configurations, plus full kitchens and common areas per building.
1400 SF admin building with 1 car garage/storage, office, bedroom space.
In mostly good shape with 90% of units fully intact.
Current owner has rehabbed Building #1 (16 units) to above average finish and ready to lease-up starting immediately.
Building #2 (16 units) rehab about 30% complete and still needs about $325K (electrical, fire supp, flooring, paint)
Remaining two buildings (16 units each) will require additional rehab of approximately $350-$375K each.
Landscaping mostly cleaned up with lawn mow/trim program, trees trimmed and new plantings.
New fence along most of southern property line, new fence along Hunter Lane, wrought iron fences refurbished.
Driveway and parking lot areas have been repaired, resealed and restriped.
Investment highlights
Financially, the campus offers multiple levers to enhance returns. An approximately $1.1 million seller-finance loan may be assumable for a qualified buyer, reducing capital stack friction and enhancing leveraged yields. The asset supported a $5.2 million loan in 2019, with ownership estimating a stabilized value on the order of $7 million once fully renovated, leased, and professionally operated. This offering provides a clearly defined, execution-oriented value-add play: convert a secured but underutilized facility into a high-quality independent living campus, capture the embedded discount for distress and obsolescence, and exit into a deep pool of capital targeting stabilized senior housing.
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